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January 20, 2023
Question

How can i do multi currency inter bank fund transfer in quick books (not real time online) , it is between two accounts in quick books?

  • January 20, 2023
  • 1 reply
  • 0 views
how to do multicurrency , inter bank fund transfer in quick books(eg between USD and Euro)?
(it is between two different currency bank accounts in quick books and not related to real time online banking.)

1 reply

January 20, 2023

Hi there, @vinya-sg-amafin.


Welcome to the Community. I'm happy to assist you in doing multi-currency between two bank accounts in QuickBooks. We make it easy to help you process foreign funds. To do this, let's make sure that the Multicurrency feature is enabled. Note that this is an irreversible process and cannot be changed.

 

Here's how

 

1. Tap the Gear icon at the upper right corner.

2. Choose Account and Settings. Then hit the Advanced tab.

3. Go to the Currency section. Then click the pencil icon. 

4. Choose your Home Currency from the drop-down arrow.

5. Tick the Save button. Then Done.

 

Once done, we are now ready to record a new transfer. We can create a transfer between transfer, cheque, matching imported transactions, and journal entries. You can check this article for detailed steps: Transfer funds between accounts


For future reference, you can check out these links to learn more about multicurrency:
 

 

Additionally, I've added these articles on how multicurrency gives you the ability to record transactions in foreign currencies and to see different information about Home currency adjustments that can help you when using the Multi-currency feature in QBO:

 

Don't hesitate to post again if you have any other questions about currency. I'm always here to help. Have a good one.